Taxation of Business Activities - TAX3701 (TAX3701)
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3/26/24, 11:49 AM Assessment 1 (page 26 of 50)
TAX3701-24-S1 Assessment 1
QUIZ
Question 26
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Mosi (Pty) Ltd is (“Mosi”) a registered micro business. Mosi received a foreign dividend of R42 000 and R170 000 as a capital
receipt from the disposal of a factory building during its 2024 year of assessment. The factory building was previously
purchased for an amount of R350 000 in 2019.
Required:
Which of the following amounts will be included in Mosi’s taxable turnover assuming the land on which the factory is built
was not mainly used for business purposes?
Mosi (Pty) Ltd (“Mosi”) is a registered micro business. Mosi received a foreign dividend of R42 000, and R170 000 as a
capital receipt from the disposal of a factory building during its 2024 year of assessment. The factory building was previously
purchased for an amount of R350 000 in 2019.
Required:
Which of the following amounts will be included in Mosi’s taxable turnover assuming the land on which the factory is built
was mainly used for business purposes?
Mali (Pty) Ltd (“Mali”) a registered micro business. Mali sold an asse, (not a financial asset) previously purchased for
R200 000, at a capital loss, and received a total amount of R80 000, during its 2024 year of assessment.
Required:
Which of the following amounts will be included in Mali’s taxable turnover?
Jerome (Pty) Ltd (“Jerome”) is a registered micro business. Jerome received R90 000 as investment income for the current
year of assessment. It has been confirmed that, none of this investment income constitutes dividends.
Required:
Which of the following amounts will be included in Jerome’s taxable turnover?
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